WEBVTT
LOCAL COUPLE DID IT AND AS
THEY EXPLAINED TO EMILY, YOU CAN
DO IT TOO.
>> SELF-PROCLAIMED FRUGAL
WEIRDOS, THEY ARE THE HUSBAND
AND WIFE TIME BEHIND THE
FRUGALWOODS, A DOCUMENTARY.
HOW EXTREME IS THE FRUGALITY?
>> I HAVEN'T PURCHASED CLOTHING
IN OVER TWO AND A HALF YEARS.
>> IN 2014 THEY LIVED IN
CAMBRIDGE, WORKING THEIR DREAM
JOBS BUT ALSO WORKING FOR THE
WEEKEND.
SO THEY TOOK A HARD LOOK AT WHAT
THEY REALLY WANTED -- A
MEANINGFUL LIFE ON A HOMESTEAD
IN VERMONT AND RETIREMENT IN
THEIR 30s.
>> ONCE WE MADE THAT
REALIZATION, IT BECAME VERY EASY
FOR US TO SORT OF CUT OUT A LOT
OF EXTRANEOUS SPENDING.
SO REALLY FOCUSED ON WHAT
MATTERS TO US.
>> LIZ SAYS YOU CAN DO IT TOO.
FIRST, DECIDE WHAT YOU WANT OUT
OF LIFE AND FIGURE OUT HOW YOUR
MONEY CAN HELP YOU GET THERE.
>> HAVING GOALS, SHORT-TERM
GOALS, LONG-TERM GOALS ARE THE
KEY TO BUILDING YOUR FINANCES
AND TO HAVING A HANDLE ON YOUR
FINANCIAL LIFE.
>> SECOND, DECIDE ON THE STEPS
TO TAKE TO REACH YOUR GOAL AND
STICK WITH IT FOR AT LEAST A
MONTH.
AFTER THAT, REASSESS WHAT'S
WORKING AND WHAT'S NOT.
>> THE POINT OF FRUGALITY AND
THE POINT OF FINANCIAL FREEDOM
IS TO GIVE YOURSELF LESS ANXIETY
AND MORE PEACE.
>> RETIRED IN THEIR 30s.
THAT SOUNDS GREAT.
ANOTHER TIP THE COUPLE
RECOMMENDS THE FINANCE WEBSITE
PERSONAL CAPITAL.
IT'S A TOOL TO USE TO KEEP TRACK
OF ALL OF YOUR ACCOUNTS AND YOUR
MONEY.

Extreme frugality helps couple retire in their 30s

Share

Shares

Copy Link

{copyShortcut} to copy
Link copied!

Updated: 11:13 AM CST Jan 4, 2017

Imagine essentially retiring in your 30s, simply by saving. A Cambridge couple did it, and they say you can, too.

Self-proclaimed "frugal weirdos," Liz and Nate, are the husband and wife team behind the Frugalwoods, a blog documenting their lifestyle of extreme frugality.

Advertisement

"I haven’t purchased any clothing in over two and a half years," Liz said.

In 2014, the couple was living in Cambridge, working their dream jobs but also just working for the weekend.

They took a hard look at what they really wanted: a meaningful life on a homestead in Vermont and retirement in their 30s.

"Once we made that realization, it suddenly became very easy for us to cut out a lot of extraneous spending and to really instead focus on what matters to us," Liz said.She has some tips you could use, too.

First, decide what you want out of life and figure out how your money can help you get there.

"Having a goal -- short term goals, long term goals -- is the key to building your finances and getting a handle on your financial life," Liz said.

Second, decide on the steps to take to reach your goal and stick with it for at least a month. After that, reassess what’s working and what’s not.

The things that are painful and that you really hate doing after a month, eliminate it. Find a different way around it. Because the point of frugality and the point of financial freedom is to give yourself less stress, less anxiety and more peace," Liz said.

After saving up, the couple now lives on a 66-acre homestead in Vermont with their soon to be 1-year-old daughter.

They recommend the finance website, Personal Capital as a tool you can use to keep track of all your accounts in one place.